Proficio Capital Partners LLC Invests $13.65 Million in The Kroger Co. (NYSE:KR)

Proficio Capital Partners LLC purchased a new stake in The Kroger Co. (NYSE:KR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 223,215 shares of the company’s stock, valued at approximately $13,650,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new position in Kroger during the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in shares of Kroger during the 4th quarter valued at about $32,000. Adirondack Trust Co. lifted its holdings in Kroger by 1,628.1% in the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after acquiring an additional 521 shares during the last quarter. Crews Bank & Trust acquired a new position in Kroger in the fourth quarter valued at approximately $39,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Kroger during the fourth quarter valued at approximately $39,000. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Stuart Aitken sold 132,627 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $63.18, for a total value of $8,379,373.86. Following the completion of the sale, the senior vice president now owns 217,523 shares in the company, valued at approximately $13,743,103.14. This represents a 37.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the transaction, the chief financial officer now owns 53,782 shares in the company, valued at approximately $3,304,366.08. The trade was a 23.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,448 shares of company stock worth $12,143,923. Insiders own 1.40% of the company’s stock.

Kroger Stock Up 1.4 %

KR opened at $64.81 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The company has a market capitalization of $46.90 billion, a PE ratio of 17.15, a P/E/G ratio of 2.85 and a beta of 0.47. The stock’s fifty day moving average is $62.08 and its 200-day moving average is $58.61. The Kroger Co. has a one year low of $48.21 and a one year high of $66.26.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The firm had revenue of $33.63 billion for the quarter, compared to analysts’ expectations of $34.19 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. Kroger’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. On average, equities analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 16.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.98%. Kroger’s dividend payout ratio is currently 33.86%.

Wall Street Analyst Weigh In

KR has been the subject of a number of analyst reports. Citigroup restated a “neutral” rating and set a $61.00 price objective on shares of Kroger in a research report on Friday, January 24th. UBS Group boosted their price target on shares of Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of Kroger from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Bank of America boosted their target price on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, StockNews.com lowered shares of Kroger from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.19.

Kroger Company Profile

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.